We have recently seen several businesses seriously affected by flooding or blocked access. St Mark’s Square in Venice floods regularly.
I have had the pleasure of walking across chairs to reach St Mark’s. Planks and chairs are one solution but is it the best for their customers, the tourists? It’s not easy to get a business back on its feet after a major disruption but it is something that must be done quickly and properly. One approach is to throw money at the problem and hope that all issues can be solved. There are insurance options of business interruption cover, along with add-on’s of increased cost of working and additional increased cost of working. Insurance Brokers are very helpful in helping a business owner choose what is appropriate. These insurance policies will, at least cover most of the immediate costs.
Payments may include repairs to building, purchasing new equipment, relocation, temporary location, staff accommodation, transport costs, shift working payments, recovery company fees and deep cleaning. The list can be endless.
What can often be overlooked and is not easily insurable is the true cost to a business. Whilst a business is out of operation, it’s letting its customers down. Getting back on your feet quickly is the most important aspect of any recovery. Knowing what products or services are important to our customers is central to any successful recovery. A combination of well-considered insurance cover and suitable contingency planning helps to secure ongoing customer relationships.
It’s just good business sense…
Give me a call, or complete the form below, I’ll ask a couple of questions and offer some thoughts, we can then decide the next steps.
With kind regards – Gareth
Gareth Crompton, MBCI
Abide Consulting Limited
PPPIG: PEOPLE, PROCESS, PREMISES, INFORMATION, GOVERNANCE
Mobile. +44 (0)7507 560214
Office. +44 (0)1256 761556